Jammu & Kashmir HC

Credit cannot be denied for merely for non-filing of TRAN-1 form

Neptune Plastics Vs Union of India and others (Jammu & Kashmir HC)

Where the petitioner instead of submitting TRAN-1 form for claiming ITC submitted GSTR-3B. The court held that the petitioner cannot be deprived of the benefit  of claiming the credit lying in its account on the stipulated date only on the basis of procedural or technical wrangles that one form TRAN-1 was not  filled by the petitioner...

Read More

J&K HC dismisses plea challenging alleged house arrest of Farooq Abdullah

Muzaffar Ahmad Shah & ors. Vs  State of J&K & ors (Jammu & Kashmir High Court)

The Jammu and Kashmir High Court declined to entertain pleas filed by the kin of former Chief Minister Farooq Abdullah challenging their alleged house arrest by the State. High Court held that In writ proceedings, a fact is to be supported and proved by authentic documentary evidence. Press cuttings cannot be relied upon as authentic docu...

Read More

Notice U/s. 143(2) not must if return not furnished in response to Notice U/s. 148

PCIT v. M/S Broadway Shoe Co. (Jammu & Kashmir High Court)

PCIT v. M/S Broadway Shoe Co. (Jammu & Kashmir High Court) Admittedly in the instant case, the return was filed by the assessee after the time prescribed for filing return under Sections 139(1) and 139(4) had expired. Therefore, the return filed by the assessee has to be treated as non-est. The proceedings under Section 147 of [&hell...

Read More

Prosecution u/s 276C/277: Burden of proving absence of mens rea is upon accused

Arun Arya Vs. ITO (J&K High Court)

Arun Arya Vs. ITO (J&K High Court) Under the Income-Tax Act, 1961 there are various provisions for compliance with taxing provisions and the collection of taxes. The Income-tax Act seeks to enforce tax compliance in a three fold manner; namely 1) Imposition of interests 2) Imposition of penalties and 3) Prosecutions. In the fight agai...

Read More

Section 10 (23C) (iiiad) Total annual receipts of each institution should be taken separately for the benefit of tax exemption

MS Vivekanand Society of Education and Research Vs CIT (Jammu & Kashmir High Court)

M/s. Vivekanand Society of Education and Research Vs CIT (Jammu & Kashmir High Court) Where there are more than one such institutions, which are under a particular society or trust, such as the assessee society in the present case, the aggregate annual receipts of each of the educational institutions would have to be considered separa...

Read More

Gold converted in jewelery/ ornament eligible for deduction U/s. 80-IB

Pr. CIT Vs Lakesh Handa (Jammu and Kashmir High Court)

Whether the Income Tax Appellate Tribunal was justified in deleting the addition made by the assessing officer by dis-allowing the deduction claimed under section 80-IB of the Income Tax Act, 1961...

Read More

Interest Income not eligible for deduction u/s. 80IB

Asian Cement Industries Vs Income Tax Appellate Tribunal (Jammu And Kashmir High Court)

A bare look at section 80-IB(4) would reveal that reference made to 'profits and gains derived from such industrial undertakings' and not to 'profit and gains derived from any business of the industrial undertaking'. A conjoint reading of Section 80-IB(l) and 80-IB(4) would reveal that the expression 'profits and gains derived from any bu...

Read More

Excise Duty Refund under subsidy scheme is capital receipt and not taxable

M/s Shree Balaji Alloys Vs. CIT (J&K High Court)

M/s Shree Balaji Alloys vs. CIT (J&K High Court)- The finding of the Tribunal on the first issue that the Excise Duty Refund, Interest Subsidy and Insurance Subsidy were Production Incentives, hence Revenue Receipt, cannot be sustained, being against the law laid down by Honble Supreme Court of India in Sahney Steel and Ponni Sugars cases...

Read More

Section 260A authorizes the High Court to hear an appeal only when substantial question of law is involved

Qazi Shabir Ahmed Vs ITO (Jammu & Kashmir High Court)

It is settled position of law that appeal is creature of Statute and appeal can be filed only when permitted by Statute and can be filed on the grounds mentioned In the Statute. In terms of section 260-A the High Court gets power to hear and decide an appeal only when a substantial question of law is involved. The section 260-A of the Act...

Read More

Browse All Categories

CA, CS, CMA (5,205)
Company Law (6,921)
Custom Duty (8,300)
DGFT (4,458)
Excise Duty (4,439)
Fema / RBI (4,556)
Finance (4,790)
Income Tax (35,961)
SEBI (3,832)
Service Tax (3,672)

Search Posts by Date

February 2021